Introduction to Sociology/Economy

 
Summary

Economy is the ways people use their environment to satisfy their material needs.

*Capitalism
Capitalism is an economic and social system to ensure that the entrepreneurial class and the capitalist with the means of production do production activities for the profit.
This economic system was developed in the United Kingdom from the 19th century to the 16th century.
And the economics of capitalism developed out of the interactions of five items.

But capitalism is associated with the unfair distribution of wealth and power. It appears as a tendency toward market monopoly or oligopoly.

*Socialism
Socialism has various theories, but generally means cooperation economy(the public possess directly means of production and share efficiently resources) and society that is distributed equally.
This economic structure is operated : government owns the means of production. and through centralized planning, it determines what should be produced and then instruct production quotas to the factories and workers. The goods that are produced are owned by the government and are then divided up among the workers.
but socialism take criticism because this system is inefficient and suppress freedom of citizen.


Opinion

People have a desire anyone. It is the driving force of the economic systems and the cause of the economic system downfall. Also That is why socialism and capitalism show an incomplete figure. So I think that development of economy is possible but it is impossible economic system is complete. because economic system is formed by people and imperfect by people. Therefore imperfections of economic system should accept perfection in the area of social.


Question

if new economic system is built, what do it look like? Is there any way you can get great method of development of capitalism and socialism?